CT Real Estate Investment Trust (TSE:CRT.UN) Hits New 12-Month High – Time to Buy?

Shares of CT Real Estate Investment Trust (TSE:CRT.UN) reached a new 52-week high during trading on Thursday . The company traded as high as C$18.53 and last traded at C$18.42, with a volume of 128997 shares. The stock had previously closed at C$18.14.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRT.UN. Scotia increased their price target on shares of CT Real Estate Investment Trust from C$17.00 to C$18.50 and gave the stock a “sector perform” rating in a report on Wednesday, May 13th. Raymond James Financial upped their target price on shares of CT Real Estate Investment Trust from C$18.75 to C$19.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Desjardins increased their target price on CT Real Estate Investment Trust from C$18.00 to C$19.00 and gave the company a “hold” rating in a research note on Wednesday, May 13th. Finally, TD raised their price target on CT Real Estate Investment Trust from C$17.50 to C$18.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Eight analysts have rated the stock with a Hold rating, According to MarketBeat.com, CT Real Estate Investment Trust presently has a consensus rating of “Hold” and an average price target of C$17.90.

CT Real Estate Investment Trust Stock Performance

The firm has a market cap of C$4.41 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.76 and a beta of 1.07. The company has a 50 day simple moving average of C$17.81 and a 200-day simple moving average of C$17.13. The company has a debt-to-equity ratio of 75.45, a current ratio of 0.11 and a quick ratio of 0.10.

CT Real Estate Investment Trust (TSE:CRT.UN) last posted its quarterly earnings results on Monday, May 11th. The real estate investment trust reported C$0.41 EPS for the quarter. The firm had revenue of C$157.56 million for the quarter. CT Real Estate Investment Trust had a net margin of 20.63% and a return on equity of 6.46%. As a group, equities research analysts anticipate that CT Real Estate Investment Trust will post 1.1696833 EPS for the current year.

CT Real Estate Investment Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 15th were issued a dividend of $0.079 per share. The ex-dividend date of this dividend was Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 5.1%. CT Real Estate Investment Trust’s dividend payout ratio (DPR) is currently 51.56%.

About CT Real Estate Investment Trust

CT Real Estate Investment Trust is an unincorporated real estate investment trust that invests in retail properties across Canada. The most significant portion of properties are located in Ontario, followed by Quebec and Western Canada. The trust generates the vast majority of revenue from leasing its properties to Canadian Tire Corporation, which operates the Canadian Tire retail stores. The trust’s portfolio primarily consists of properties anchored by a Canadian Tire retail store, in addition to retail properties not anchored by Canadian Tire, distribution centres, and mixed-use commercial property.